In a monopoly, marginal revenue is ?

Related Mcqs:

When ________ substitutes exist, a monopolist has ________ power to raise price?

A. more; more B. fewer; less C. more; less D. no; infinite...

Which of the following statements best describes the outcome under monopolistic competition ?

A. In monopolistic competition, there are too many firms and each firm produce a slightly different product at a scale that is less than optimal B. In monopolistic competition there are too few firms and each firm produce a slightly different product at scale that is greater than optimal C. in monopolistic competition there is … Which of the following statements best describes the outcome under monopolistic competition ?Read More...

Suppose Handel’s Ice Cream experiences economies of scale up to a certain point and diseconomies of scale beyond that point. Its long-run average cost curve is most likely to be ?

A. downward sloping to the right B. U-shaped C. Horizontal D. upward sloping to the right...

Economic profits are ?

A. the difference between total revenue and total costs. B. anything greater than the normal opportunity cost of investing C. the opportunity costs of all inputs D. a rate of profit that is just sufficient to keep owners and investors satisfied...

In which of the following circumstances would a cartel be most likely to work ?

A. The market for copper, where there are very few producers and the product is standardized. B. The fast-food market where there are a large number of producers but the demand for fast food is inelastic C. The coffee market where the product is standardized and there are a large number of coffee growers. D. … In which of the following circumstances would a cartel be most likely to work ?Read More...